Rwandans should exploit trade opportunities in the US Proposed for

The local traditional baskets and coffee constitute the major part of national exports to US

With effect from this year, the Rwanda private sector will be able to take advantage of market opportunities in the United States when the U.S.-Rwanda Bilateral Investment Treaty (BIT), which was ratified last month, enters into force later this month.

The move would see coffee, tea, pyrethrum, essential oils and handcraft bringing more money into the country coffers and operators’ income.

The treaty, which is meant to increase and diversify trade through the exploitation of existing partnerships, is the first of its kind that the United States has concluded with any African country in almost a decade ago. It aims to stimulate Rwanda’s economic growth, private sector investment and increase exports.

According to Kaliza Karuretwa, the Director of Trade and Investment in the Ministry of Trade and Industry (MINICOM), the government is working towards identifying trade opportunities in the US, saying “We have so far identified sectors that have high market and export potential, such as coffee, tea, pyrethrum, essential oils and handcrafts”.

The US government is giving a lead to the treaty in effort to stimulate the national growth. The government of Rwanda hails the ratification which comes at a time of growing international interest in the East African region and the continent at large.

It will contribute to promote the Rwanda-US ties and uplift Rwanda’s interest to become a regional strategic gateway to the 130 million EAC consumers.

The trade volume between the two countries amounted to US$ 51 million in 2010 with Rwandan exports to the US totalling US$21.5million. Rwandan imports from the US estimated at US$ 29.5 million.

Coffee has contributed to the total exports up to more than 85 percent of exports.